Charity regwstration number 1163990 RONNIE scorrs CHARITABLE FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
RONNIE scorrs CHARITABLE FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Tru$tees S Greene S Coyne D Bapb"sle F Nash Charity number 1163 Indgpendtnt examiner Gerald Eddman LLP 73 Comhill London EC3V 3QQ
RONNIE SCOTTS CHARITABLE FOUNDATION CONTENTS Pa Trustees, repixt Independent examiners report Statement offinarrial artieS Balan(e sheet Notes lo the a(ZOLtnts
RONNIE SCOTTS CHARITABLE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Trustees piesent their rep and accounts for the year ended 31 Marth 2023. Thè a¢cotJnts have been prepared in acxxr¢Yance wrth the acunting poh'ryes set in note 1 to the accounts and compty Imth the Foundation's governing d0Ment. the Chartbes Act 2011 and 'Aco)unting and Reporting by Charities.. Stsiernent of Recommended PraL"ce applicable to charities prepartng their accounts in accordance with the Finan¢ial Reporbng Standard applicable in the UK and Republic of Ireland {FRS 1021. las amended for accounting perio&s ¢x)mmencang from 1 January 2016) Objectives and actlvitiè$ The Foundation's objects are lo advance edu(atson Ihrovgh the promotion, support and encouragement of the art of music and in partular the promotion. encouragemenl and support of musical edijcalion programmes lo onsure that music edLKation is aSsIble to every child and young person espe(aalty those who are under privilèged, and to advance su( charrtable purposes (acwrding to the of England and Wales} as the Trustees see fit from time lo time in particular bul not limited to raising and distributing fvnds land providing loans) and gifting musical instnjments to organisalions that create or develop youthiazz programmes and makeiazz mu&c. The Trustees have paid due regard to guwJanc issued by the Charty Commtssion in deciding what activjlies the Foundation should undertake. G¥anlmaking'. The Foundation invites appficab.ons for grants thrcwgh athrtising on its website foundation.ronniescolls.co.uk. Each appliG31ion is reviewed by the Trustees against the objectj.ves of the FoundalKTrn. Through its granlmaking actiwties, the Foundation furthers rts objects and provides pu1¢ t)enefft. Achievements and perforniance The Trustees report that again this year was signikanty affee by Comd 19 th partner Organisatn8 struggling lo reeslablish activities. By the end of the year the Charty has become &gnfficantly more active making most grants in the seo)nd half of the financiql year_ Grants totaling £33,83512022 £nil) have been made during the year. The Charity was able lo organize its first thartty fundraising night at Ronnie Scotts Jau Club in January 2023 since Covid. Financial revlew 11 is the policy of the Foundation that unrestricle(I funds whith have not en designated for a specffic use should be maintained at a level in excess of bets¥een three and six month's expenditure. The Trustees considèrs that reserves at this level wdl ensure that, in the event of a signifunl drop in fvnding, they will be able to (t)ntinue the Foundation's current activities while consideration is given to ways in whth additional ftjnds may be raised. This level of reserves has been mainlaingd throughout the year. Investsnent pdicy and objectives Under the Trust deed, the charrty ha5 the poww to make any inveslment which the Tntstees see fiL The Truste6s has assessed the major risks to whit the Fourwjation is exposed. and are satisfied that systems are in place to mitigate exposure lo the major risks. The Trustees will cntinue to seek out and a&sist befiarieS induding those lo whffii the chartty has already made grants. structure, gov•mancè and management The Charitable Trust was registered as a tharity on 15 October 2015. The Foundation is adminislered by the Trustees in accordan with rts Trust document. Nothing in this Trust deed reslrids or exdudes the exercise by the Trustee5 of the powers given by the Trustee Act 2000 as 98rdS lo the investmenL the acquisiti'on or disposal of land and thè employment of agents, nominees and ujslodians.
RONNIE SCOThS CHARITABLE FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 The Trustees who served during the year and up to the date of Signatu of the finarri81 statements were.. S Greene S Coynè D Baptiste F Nash (Rèsigned 30 June 2022) Every Trustee must be appointed for a term of five years by a re501uh.on of the Trustees passed at a speaal meeting. In selecting individuals for apwintmenl as Trustees. the Trustees must have regard lo the skills, knowledga and eX[Erien needed for the effethe administraiion of th8 Foundatk)n. Induction and tsaining of new Trustees: In wew of the sr£e of the charity it is not consbdered neeesw for the Trustees to undergo forn1 training. The finan¢ial slalements compty wrth current statutory requirements and the Statement of Recommended PractKe - Accounting and Reporkn"ng by Charitie5. The Trustees (x>nsutt on an ad hct basis to review and assess requests for donations from the Foundation and polenlkAI opportunrties lo increase fiJnds available. The Trustees have condu¢Xed their own review of major strategic, business and operational risks lo which the Frsund31ion is exposed and confirmed that systems have bn established lo enable regular rèports to be produced so that neCery steps can be taken io mrtigate those risks. During the year. there were donations received of £101,173 (2022 £nil) from The Ronnie Scows Jazz Club Limited, via ils trading subsidiary, Palmglen LimTted. Certain Trustees of the Foundation are Directors of The Ronnie Scott's Jazz Club Limited. N¢e of the Trustees has any benefKJ"al interest in the Foundalron. Ronnie Scott's Jazz Club has undergone a number of L*anges in the past few years and the Trustees welcome the appointment of Ada Ologbosere as administrator of the tharity and they expect the Charity to incrÈase115 levels of activity in the year ending March 2024.
RONNIE SCOTTS CHARITABLE FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2023 statement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees. Report and the accounts in accordance with ap1¢able L4w and United ngdoM Accounting Standard5 (Untted Kingdom Generaliy Accepted Ac¢ountsng Practi1. The law applie2ble to charibes in England and Wales requires the Trustees to prepale accounts for eath f InancAal period which give a true and fair view of the stalè of affairs of the Foundation and of the incoming resources and application of resources of the Foundation forthat year. In preparing these acuwnls, the Trustees are required to: - select suitable accounting PLAeS and then appty them nsIstenty.. - observe the methods and principles in the Charilies SORP.. - make judgements and estimates that are reasonable and pnmlent". - state whether applicab accounting standards have been followed, subject to any material departures disclosed and explained in the accounts.. and prepare the accounts on the going c))ncern basis unless it is inappropriate to presu that the FoundatF¢n will continue in operation. The Trustees are responsib for keeping suffi(ienl actountiThJ recx)rds that disdose with reasonable accufacy at any lime the finanaal position of the Foundation and enable them to ensure that ihè accounts comply wrth the Charities Act 2011. the Charity {A¢xounls and Reports) Regulab'ons 2LM18 and the proviOn$ of the trust de8d. They are also responsible for safeguarding the assets of the Foundation and hen for taktng reasonable steps for the prevention and detection of fraud and other itregulartties. The Trustees. reFx)rt was approved by the Board of Trustees. F Nash Trustee Dated.. {(
RONNIE SCOTTS CHARITABLE FOUNDATION INDEpENDEr EXAMINER'S REPORT TO THE TRUSTEES OF RONNIE scorrs CHARITABLE FOUNDATION I report lo the Trustees on my examination of th& finan¢xl stslements of Ronnie Scotts Charitable Foundation (the Foundab"on) for the year ended 31 Marth 2023. Responsibilitye5 and basis of report As the Trustees of the Foundation you are responsible for the preparatron of ihe finanaal statements in aordanCe wrth the requirements of the chartb.es Ad 2011 (the 2011 Ad). I report in respe of my examinion of the Fcwndation's accounts carried out under section 145 of the 2011 Act. In carying out my examination I ha fdloweil all the appficabte Directions gwi by the Charity Commission under section 145{5llbl of the 2011 Act. Indepondent examinerfs statement Your attention is drawn lo the fact that the FoundatKJn has prepared a(xounts in a(Eordare with Accounting and Reporti"ng by Chaiilies pieparing their ac(xJurrts in arxordance with thè Finanoal Reporting Standard applicable in the UK and Republic of Iland IFRS 102) in pference lo the A(Lounting and Reporting by Charities.. Slalefflenl of Recommended Prdctice issued on 1 April 2005 whi( is referred to in the extant re9ulatK)ns bLrt has now been Wtthdrawn. l understand that this has been done in order for accounts to provide a tnje and fair wew in aCrdance with Generalty Accepted Accounting praCh. effe(INe for reporting periods toginning on or after l January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giwng me causè to believe that in any material respe¢t." awounting rec$ were not kept in res of the Foundation as required by sethon 130 of the 2011 Act,. or the financial Slalements do not accord Wih those records." or the finanaal statements do not o)mpfy with the applitxble requirements contxming the forn? and content of accounts sel out in the charti.es (Accounts and Reports) RegukInS 2C()8 othei than any requirement that th$ accounts give a true and fair vie•V which is not a mattef Considered as part of an independent exarnination. I have no concems and have cc¥ne across no ottkr matters in c¥)nneclion with the examination to which attention should be drawn in this report in order to enabje a proper understanding of the financial staternents to be reached. Howard Woolf FCA Gerald Edelman LLP Chartered Accountsnts 73 Cornhill London EC3V 3QQ Dated.. ¢Jy lui /67 Z3
RONNIE SCOTTS CHARITABLE FOUNDATION STATEMENT OF FINANCIALACTMTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Incomè from". Donations aThJ legarAes 104,465 3.481 nditur* on: Raising fvnds 4,486 216 Charitable activities 33.835 Other 6,112 35 Total resources WApended 44,433 251 Net income for the periodl Net movement in funds 60,032 3,230 Fund balances at 1 April 2022 68.303 65.073 Fund balances at 31 March 2023 128,335 68.303 The statement of finanal ath"v115 indudes au gains and losses recognised in the year. All income and expenditure derive from continuing actiwties.
RONNIE SCOTTS CHARITABLE FOUNDATION BALANCE SHEET AS AT31 MARCH 2023 2023 2022 Notes Curront a$sets C85h at bank and in hand 128,335 68,303 Net current assets 128,335 68,303 The fund3 of the Foundatlon Unrestricted funds 128,335 68,303 128,335 68,303 l! D.w6rlO23 The financial statemenls were approved by the Trustees on.... .. F Nash Trustee
RONNIE SCOTTS CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 A¢¢ountiny poliei•$ Charlty Inlornwlion Ronnie S¢otts CharitabEe FoundatThi is a registered charity dedicated to the supp(Mt of jazz education in the Unrted ktingdom arKI beyond. 1.1 A¢¢ounting convenlion The accounts have been prepared in accordance with the Foundation's declaration of Irusl. the Charities Act 2011 and 'Accounting and Reporbng by Charities.. Statement of Reconwmended Practice applicable to charib'es preparing their acttjunls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for ae(xJunkn"ng peric%ls cx)mmencing from l January 2016}. The Foundation is a Public Benefit Entity as defined by FRS 102. The Foundation has tsken advanl¥Je of the provtsions in the SORP for charities apptyin9 FRS 102 Update Buletin 1 not lo prepare a Stslemenl of Cash Flows. The fanual statements have departed from the Charilies (Aoxcunts and Reports) Regulations 2008 onty lo the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for chartties applwng FRS 102 ralher than the version of the Statement of Reo)mmended PraC#e whith is referre(J to in the Regulations but which has since been Mthdrawn. The financial statements are wepared in stèrting, which is the fvncb.onal currgncy of the Foundation. Monetary amounts in these financial slalements are rounded lo the nearest £. The aeeounts have bèèn prepared under the hislorKal (xjsl ¢>Jnvention. As the unincorporated Foundation has gross income of less than £250,{ during the financial period. the acLounts only present a summary of all money received and paHI out by the Charity in the period. The prin(apal accounting poli5 adopted are sel out below. 1.2 Going con¢em At the lime of appro¥Ang the aOUn1$, the Trustees have a reasonable expectation that the Foundation has adequate reSoUS lo continu8 in operational existen for the I0seeable future. The Covid-19 pandemic had a significant impa¢t on the level of donations received by the Foundakn"on in the prior two years. This severely limited the donations paid to its preferred chanttes. There has been a retum to a higher level of aclivrty during the year ended 31 march 2023. Thus the Trustees continue to adopt the gtyng concern basis of accounting in preparing the 8ccounts. la Charltable funds Unrestricted funds are avaiLqblÈ for use at the diSCfetn of ts Tmstees in fvrtherance of their tharilable objectives. Restricted fvnds are subje(1 lo specific conditions by donors as lo how they may be used. The purposes and uses of the stftCted funds are sel out in the notes lo the aco)unts. where applicable. Endowment fvnds are subpct to spe(¥fi¢ conditKJns by donors that the Capital must be maintained by the Foundation. 1A Incoming resources Income is re¢ognised by the Foundation on a reIpts basTrs.
RONNIE SCOTTS CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting poli¢ies (Continued) 1.5 Resources gxpended Resources expended are induded in the Statgment of Financial AdwTties and are recognised in the period in which they are incurred. Governance StS include those inrd in the 9ovemance of the Foundation and rts assets and are primarily assoaaed with constitutional and statutory requirernents. The support costs a&waalÈd with grant maknng activth.es wa5 £4.270 {2022: £nil). 1.6 Cash and 5h equivalents Cash and cash equivalents incfudè cash in hand, deposits held al CAII with banks, other short-tefm liquid investments wth original maturtbes of three months or tess. and bank overdrafts. Bank overdrafts are shown within bOowingS in Cuent liabililies. Basic financialassets Basic financial assets. which includes cash and bank Wgnces. are InitllY measured al transaction price induding transaction costs and are subsequenliy carrted at amortised cost using the effective interest melhod unless the arrangement constittrtes a finan(ing transaclion, where the tran5aclion is measured at the present value of the future receipts dis¢ount8d at a market rale of irrtefest Finan(aal assets dassiffed as re1vable thin one year are not amortised. Jn¢omo from donations and kga¢ies Unrestrw¢ted Untricted funds funds 2023 2022 Donalions and gffts 104,465 3,481 Raising fuTrd$ Unrestricted funds Totsl 2023 2022 Fundraisin and ub Fundraising agents Cost of charitable events 216 4.270 216 4,486 216
RONNIE SCOThS CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charitable a¢tivitles 2023 2022 Grants made 33,835 TrusteeB None of the Trustees lor any pe0$ cMneded with them} r11 any remuneth.on or benefits from the Foundation during the year. Employ There were no employees during the period.